WHY IT MATTERS

The 3D printing market is growing rapidly.

Smithers Pira predicts that the market will grow nearly 10x in the next 10 years, from $5.8 billion in 2017 up to $55.8 billion in 2027.

McKinsey takes it a step farther, suggesting that by 2025, 3D printing could have up to a $500 billion economic impact. The study also noted that 5-10% of all consumer products (in relevant categories) could be 3D printed by then.

5-10 PERCENT!

But it’s not just consumer products. Additive manufacturing (aka 3D printing) is finding uses in nearly every vertical market. No longer just confined to aerospace, automotive, and medical, companies in the energy and construction sectors are also finding innovative new use cases. Educators are integrating 3D printing into their STEM and STEAM curriculum. Even artists and museums are looking at how the technology can be used to help them design, build and maintain their works.

BUT, the pool is getting more crowded.

A recent Sculpteo survey reported that respondents are investing in 3D printing now and plan to spend even more next year. Further, the study validated what many already know. While prototyping is the dominant use case today, it won’t be for long. Production is the holy grail.

Where are you?

Are you considering an investment in 3D printing? Have you already made one? If so, are you thinking about spending more?

Whether you’re thinking about how to incorporate 3D printing into your business, or have already made some steps, you’ve got to be strategic. It’s more than just buying equipment. You’ve got to consider the market and how you’ll achieve ROI. You also have to think through the implications on people, process, capital, and other technology initiatives.

500 Days

If you’re sitting on the fence or waiting for the market to mature, consider this.

In just 500 days the entire hearing aid industry converted to 3D printing. Not one company that stuck with traditional methods survived.

Innovation happens fast. When it does, you’re either part of the steamroller or the pavement.